• Block Fusion is a cryptocurrency mining firm in Niagara Falls, New York that is currently in a legal battle with the city.
• The company has been operating in an old industrial site on Frontier Avenue, but has recently come under threat due to new crypto mining regulations implemented by the state of New York.
• Block Fusion has filed a lawsuit against the city claiming that the zoning code changes are unlawful and designed to specifically harm companies like itself.
Block Fusion Crypto Mining Firm in Legal Battle
A fight is brewing between a cryptocurrency mining firm in Niagara Falls, New York and city regulators. The company, known as Block Fusion, has been working for many years in an old industrial site on Frontier Avenue, but it now faces challenges due to new crypto mining regulations implemented by the state of New York.
New York’s Unfavorable Stance Towards Crypto Companies
New York has not been a kind region to crypto companies. The state recently implemented a crypto mining moratorium that would prevent all mining companies from entering its borders and setting up shop there over the next two years if they do not operate fully on clean energy. There are now many individuals in the New York government working hard to expand the moratorium and have it last longer. Additionally, New York’s attorney general Leticia James is also working hard to bring lawsuits against several crypto companies that allegedly took part in fraudulent activity.
Block Fusion Ceases Operations
William Rossi – the attorney hired to represent Block Fusion – says the company ceased all its operations last November given it was allegedly in violation of new industry zoning codes. However, since then, the company has filed an application with the city for an operating permit under the new regulations. Despite Block Fusion alleging that it had been following all applicable laws and regulations, its application still had not been acted upon after 15 days of submission according to Rossi.
Lawsuit Filed Against City
Due to this inaction, Block Fusion has since filed a lawsuit against the city claiming that present zoning code changes are unlawful and designed to specifically harm companies like itself; furthermore it asked for permission to stay operational while its application was being considered by authorities. Rossi clarified: It’s not our intention (to have to challenge the law). If we could have an opportunity to demonstrate our compliance (with the law), we would appreciate that.“
Public Opinion on Matter
Former Falls City Council Chair John Spanbauer recently stated his belief that Region needs economic opportunities such as those provided by Block Fusion, so hopefully this matter can be resolved amicably so both parties can benefit mutually from such ventures going forward .